Condor Gold Raises £220,000 Through Share Options Exercise

Condor Gold Plc (AIM:CNR, TSX:COG) announced the issue of 1,000,000 new ordinary shares following the exercise of share options granted in 2019. The shares, priced at 22p each, generated gross proceeds of £220,000 for the company. Among the subscribers were Chairman Jim Mellon, CEO Mark Child, and several employees and consultants. The shares are expected to begin trading on AIM around July 18, 2024.

Jim Mellon and Galloway Limited will receive 300,000 shares, increasing their total to 53,402,480 shares, or 26.12% of company shares. Mark Child will gain 100,500 shares, bringing his total to 4,862,460 shares, representing 2.38%. Dave Crawford, CTO, will receive 100,000 shares, making his total 105,000 shares, or 0.05% of the company’s shares.

With the new shares issued, Condor Gold’s total shares outstanding will be 204,442,778. Shareholders can use this figure to calculate their holdings under FCA rules and Canadian securities regulations.